Note 18 - Subsequent Event (Notes)

9 Months Ended

Sep. 30, 2015

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Event

On November 3, 2015, Radian Guaranty entered into a 15-year operating lease agreement for approximately 150,000 square feet for our corporate headquarters in Philadelphia, Pennsylvania. This agreement commences on September 1, 2017, with payments beginning in December 2018, and replaces our existing lease for our corporate headquarters when it expires in August 2017. The expected obligation for base rental payments under the new lease agreement is approximately $3.5 million per year, with equal annual escalations to a total of approximately $4.6 million per year by the end of the lease term. Total base rent payable over the lease period is approximately $61 million. In addition to the base rent payments, the Company will be obligated to pay certain customary amounts for its share of operating expenses and tax obligations. Although a tenant improvement allowance is provided in the agreement, the Company may also incur additional costs to further improve the space to its specifications. The Company has an option to extend the term of the lease for an additional five-year period.